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​​​​The Situation​​​We have been in one of the most Bullish Stock Market in history ​since 2009.​ The Mighty SP500 Index (SPY ETF in our case) went ​from a low in March 2009 ​of 67.10 to the high ever on May 2015 at ​213.78, so rose by a factor ​of 3.2 spurred by low interest rates and ​strong buybacks ​from US corporations.​​​​But in fact, since the peak made on May 20 2015 at 213.78 on the ​SPY ETF, we are into a lower highs and lower ​lows technical ​pattern ​in a multiple down steps but quite near of challengingthe previous top at 210.92 made on April 20 2016...​​(See 1rst Chart Below - Thick Amber Trendline - Ellipse)

​​And we made almost a double bottom technical pattern (January 20 ​2016 and February 11 2016 to painfully climb into a Steep Uptrend Channel on Low Volume.​ ​​(See 1rst Chart Below - Channel) The SPY ETF is now at 15.6% from its bottom reached on February 11 ​2016, quite a strong rebound...

​​We are getting very close on a Daily basis of a Major Resistance Trendline that started back since the ultimate peak in price reached​ on May 20 2015. Bears need to keep SPY ETF below that Resistance Trendline dailywise.​​(See 1rst Chart Below - Thick Amber Trendline - Ellipse)​. ​​​​​​​But looking at the big picture (Monthly Candles Chart on SPY ETF) shows us the most interesting technical factor; we are into a lower highs and lower ​lows technical ​pattern since May 2015 and now getting near the Resistance Zone on that Monthly Downward Channel... The best set up for Bulls is testing it in a strong Volume environment in the next few trading sessions. The real technical battle for Bulls is here...​ (See 2nd Chart Below - Downward Channel - Ellipse)